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Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Former president of Dean Foods Thomas Davis told a Manhattan federal court on Tuesday which he regularly shared privileged insider information in regards to the company with Vegas sports betting legend Billy Walters.

Sports Billy that is betting Walters multiple fees of wire fraud and securities fraud.The alleged source of insider information, his former buddy, Thomas Davis, testified against him this week.

The set would communicate via specially designated prepaid cellphones which they called their ‘bat phones,’ Davis said.

Walters is on test accused of profiting from illegal stock market trades on Dean Foods, a company that is dallas-based one of the largest processors of milk in the usa.

Additionally it is alleged that Walters shared insider information, obtained from Davis, with his friends, including the golfer Phil Mickelson, that is scheduled to be called as a witness for the defense.

Innocent Fulfilling

Davis said that the partnership had started ‘fairly innocently’ after the pair met at a California golf course in the mid-nineties. He had been happy sufficient to offer the occasional stock market tip into the hope he’d acquire some sports betting advice in return, he said

However the nature associated with the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where we had been a digital conduit’ for inside information, he said.

‘I became indebted to him,’ he said. ‘He became more demanding of information.’

Davis said he offered Walter business secrets through the Bat mobile for over seven years, until 2014, including earnings information and upcoming transactions that are pivotal.

He gave testimony this week as component of a plea discount with federal prosecutors, after admitting charges including securities fraud and wire fraud.

Walters Made $40 Million on Trades

Davis initially denied involvement when he was approached by federal agents in 2014. Authorities’ suspicions was indeed aroused after it emerged Walters had made over $40 million on trades on Dean Foods over the years, including around $17 million between May 2012 and 2012 alone august.

The investigation was having on his family and himself after their visit, Davis threw his bat phone into a creek, he said, but later decided to come clean after he suffered a stroke and realized the impact.

‘I used inadequate judgment and I was scared to death that I had made some terrible errors and we wanted to pay for it up,’ he stated. ‘we lied to everybody.’

Mickelson has not been charged with an offense, although he did return $1 million he earned in 2012 on one of Walters’ trading tips.

Walters pleads simple and their lawyer contends Davis is lying.

Alabama Legislators Attempt to Pass Daily Fantasy Sports Bill

Proponents of legalizing Daily Fantasy Sports in Alabama are hoping a number that is traditionally unlucky their fortunes.

Hawaii legislature is debating three various bills and if one passes, it might make them the state that is 13th the US to enable its residents to take part in DFS.

Alabama has three separate bills in the legislature proposing that Daily Fantasy Sports be legalized. (Image: Associated Press)

Up until might 2016 residents were able to take part at sites such as Draft Kings and Fan Duel. Luther Strange, the attorney general turned US Senator, stated it was an activity that is illegal delivered stop and desist letters towards the businesses.

When someone clicked on those sites they did not see the landing page, but instead an email that said, ‘We’re sorry, but your location that is current prohibits from making deposits or playing on FanDuel.’

Fans straight away started initially to call their state representatives and senators to protest and urged them to do this.

Age Old Argument

The debate on DFS is whether it’s skill or gambling while the conversation happens to be lively.

Sen. Tom Whatley (R-Auburn) who is sponsoring one of the bills said knowledge is the key to success in the competitions. He told AL.com that it is far different than other types of wagering.

‘To me personally, we don’t view it as the same kind of gambling that i am opposed to in the past for instance the casino-type of gambling,’ Whatley said. ‘It’s about the skills of picking teams that are playing once a day or a few times per week.’

Alabama Citizens Action Program, a business funded by churches that opposes video gaming of any kind, is fiercely opposed to it.

‘It’s in contrast to league play or play that is season-long friends and family,’ Executive Director Joe Godfrey said. ‘This is daily fantasy recreations. It’s a big time gambling procedure.’

Patterned After Neighbor’s Law

Associated with the three bills, HB 354 generally seems to have the best odds of passing. The legislation is modeled after a recently approved Mississippi law and would establish a plan that could manage the industry.

Operators would have to cover a registration fee of $85,000 should they had a lot more than 5,000 accounts and $10,000 if significantly less than that figure. The revenue tax could be six % and companies will have to submit annual audits that is financial.

Other provisions could be an age limit of 19 or older and contests could simply be on professional sports.

Casino Smoking Bad for the physical Body, but No Smoking Bad for company, Harrah’s New Orleans Says

Casino smoking inside Harrah’s New Orleans happens to be banned since April of 2015, and also as the two-year anniversary associated with regulation that is clean-air, representatives for the gambling venue are exposing just how expensive the ban happens to be.

Harrah’s New Orleans would enjoy absolutely nothing a lot more than to remove their no casino smoking signs, while the ban is drastically hurting gaming revenue. (Image: smokefreecasinos.org)

Smoking is unquestionably bad for the physical body, but no smoking is apparently harmful to company. That’s the story being presented by Caesars Entertainment President Mark Frissora this week in Louisiana.

Speaking during the Riverboat Economic Development and Gaming Task Force meeting on March 21, Frissora said Harrah’s New Orleans has lost nearly $70 million since the ban has been implemented.

During a presentation, the Caesars CEO pointed to $342 million in gaming revenue in 2014, followed closely by $307 million in 2015 and simply $273 million in 2016. The annual declines represent $35 million and $34 million for a total loss of $69 million.

Caesars Entertainment is the moms and dad organization to Harrah’s. The company owns Horseshoe Bossier City and Harrah’s Louisiana Downs, both located in the northwestern part of the state in addition to its New Orleans property.

Courtyard Gaming

Since 2007, all workplaces and restaurants in Louisiana were smoke-free, nevertheless the state law doesn’t expand to casinos and bars. The Big Easy changed that two years back.

All smoking and vaping inside casinos unlike the rest of Louisiana’s land-based and riverboat gaming venues where smoking remains legal, Harrah’s New Orleans is being forced to adhere to a city code that outlaws. Outdoor smoking lounges were established for patrons, but income nearly immediately left the building too.

Meanwhile, gaming income at casinos located outside of the populous city restrictions, the Boomtown New Orleans riverboat for example, has increased since 2015. ‘It’s maybe not fair because everyone else around us doesn’t have the smoking cigarettes ban,’ Frissora told the committee.

The town threw Harrah’s New Orleans a bone when it allowed the casino to include 63 slots in its smoker-friendly courtyard. But with losings totaling nearly $70 million in two years, that’s not also one video gaming machine per million bucks.

However, the designated video gaming courtyard is only the first of three set to open.

Lighting a Fire

Gambling and smoking go together like America and apple cake, and that’s why Louisiana Gaming Task Force Chairman Ronnie Jones thinks the ban is working against the reason for having legalized gambling in New Orleans.

Harrah’s brand New Orleans has directed more than $1.2 billion in gaming taxes to your continuing state since it launched in 1999. It’s additionally paid $300 million in rent payments to your city, and raised over $8 million for Hurricane Katrina relief.

By all reports, Harrah’s has become a strong partner to New Orleans.

Harrah’s forecasts 2017 video gaming profits comes in at $270 million, a cry that is far the $342 million it collected in 2014. ‘ I’m not a scientist, but the smoking is thought by me ban had an effect,’ Jones explained.

While supporters of the clean-air code say the healthiness of Harrah’s workers is a lot more critical than the casino’s bottom line, Frissora explained he simply wishes a level regulatory playing field.

North Korea Casino Cruise Ship Invites Foreign Investors to Come Aboard

A North Korea casino ship is wanting to set sail through the Mount Kumgang tourist region to South Korea as well as other nations that are asian. The Kumgang Special International Tourism Zone is a unique section of the reclusive totalitarian country that is charged with raising tens of vast amounts for Kim Jong Un’s government.

Site Visitors permitted to enter the country’s Mount Kumgang tourist region already arrive via ships, but now the separated regime wants foreigners to buy North Korea casino cruise line. (Image: Carlos Barria/Reuters)

Tourism and access that is outsider North Korea is greatly restricted, but each year a limited number of visitors are permitted under close supervision. Mount Kumgang is one such area foreigners can travel, and now the country is trying to debut a casino cruise to the destination.

But in order to achieve this, North Korea is attracting international investors in trying to raise $20 million for the project.

The country explains, ‘We are trying to diversify international tourism at the world-renowned Mount Kumgang in a proposal to potential investors in shoddy English. By using the cruise liner, we will diversify worldwide tourism of Mount Kumgang, which can be famous hill of world.’

‘The passenger ship is equipped with various facilities to allow 1,000 tourists to complete social and travel that is safe the ocean,’ the notice hypes.

Do not expect billionaires Steve Wynn or Sheldon Adelson in the future running.

‘I strongly question there are going to be foreign investors who are ready to spend cash in North Korea,’ Lim Eul-chul, a teacher at South Korea’s Kyungnam University, told London’s Financial Times.

North Behind NY Fed Heist?

According to sources speaking with the Wall Street Journal, the usa believes North Korea was behind the successful $81 million cyber bank online aristocrat pokies heist from the Federal Reserve Bank of New York year that is last. The funds had been swindled from the Bangladesh account, with some of this ill-gotten money being laundered through at least two gambling enterprises into the Philippines.

While the US remains beneath the impression that Chinese operatives carried out the hacking, the WSJ says federal authorities have reason to credit the theft to North Korea.

On 5, 2016, hackers scheduled transfers totaling nearly $1 billion from the Bangladesh Central Bank for ‘international settlements’ set to be deposited into various accounts around the world february. After $81 million was successfully withdrawn, an error that is spelling the eye of Deutsche Bank and prompted the financial institution to verify the transaction with Bangladesh officials.

As opposed to ‘Shalika Foundation,’ the recipient had been spelled ‘Shalika Fandation.’

Headed Towards War?

The eyes of world leaders are fixated on North Korea, as the country is reportedly close to releasing another nuclear test. Final month, Jong Un’s military conducted its very first ballistic missiles test since President Donald Trump took office.

US Secretary of State Rex Tillerson has said the Obama administration’s ‘wait-and-see’ approach is over in regards to North Korea. Jong Un has made no secret about his wishes to obtain or build a nuclear weapon capable of reaching the usa.

White House Press Secretary Sean Spicer said this that the situation is ‘grave and escalating. week’ Yet another reason why few foreigners aren’t likely to be too keen on moving in on a casino cruiseship in North Korea.